Annualized inflation eased to a 2.3 percent pace, the lowest since early 2021. But the month-to-month pace of inflation increased.

The Producer Price Index, a closely watched measurement of wholesale inflation, showed Thursday that the prices paid to US producers dropped 0.5% in April from the month before, a much softer reading than economists expected, while inflation slowed on an annual basis to 2.4%, from 2.9% in March, according to Bureau of Labor Statistics data.

The CPI report was cooler than expected, although inflation is still higher than the Federal Reserve's 2% annual goal.

Israel's annual inflation rate rose unexpectedly in April to 3.6%, according to data on Thursday from the Central Bureau of Statistics that will likely keep policymakers from reducing interest rates soon.

The Federal Reserve will have little reason to change its wait-and-see stance as a result of April's inflation reading from the consumer-price index. The figures were largely in line with the expectations of forecasters who closely track how the Labor Department measures inflation.

Surprising inflation data and weak retail sales spark a sharp crypto selloff, with Bitcoin down over 3% and Coinbase sliding in premarket trading.

Inflation rose slightly less than expected in April despite the arrival of President Donald Trump's sweeping international tariffs early in the month, according to a Bureau of Labor Statistics report on Tuesday.

Argentina's monthly inflation rate slowed more than expected to 2.8% in April, data from national statistics agency INDEC showed on Wednesday, though residents continue to struggle with the South American nation's ever-rising costs.

Wholesale prices took their largest month-to-month dive in April since the height of the coronavirus pandemic amid Trump’s ongoing trade war. The producer price index (PPI), a measure of wholesale